March 16 (UPI) -- A third drug company is cutting the price of insulin to $35, following competitors Eli Lilly and Novo Nordisk in heeding pressure from the Biden administration.
Sanofi's Lantus insulin injection will see its price cut by 78%, the company announced Thursday. The out-of-pocket cost for all patients will be $35. It is also slashing the price of its short-acting insulin injection Apidra by 70%.
Sanofi, along with Eli Lilly and Novo Nordisk, produce 90% of the world's insulin supply, according to USA Today.
"Sanofi believes that no one should struggle to pay for their insulin, and we are proud of our continued actions to improve access and affordability for millions of patients for many years," Olivier Bogillot, Sanofi's head of U.S. general medicines, said in a statement. "We launched our unbranded biologic for Lantus at 60 percent less than the Lantus list price in June 2022 but, despite this pioneering low-price approach, the health system was unable to take advantage of it due to its inherent structural challenges."
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